1120 Corporation (Form 1120) returns and S-Corporation (Form 1120-S) returns can be changed to the other within the Business Utilities menu.
If a 1065 Partnership needs to be changed, or an 1120 or 1120-S Corporation needs to be changed to a Partnership, the return must be deleted and re-entered into the correct business menu.
To change a Corporation to an S-Corporation or vice versa, from the main menu of Keystone Tax Solutions Pro select:
- Business
- Business Utilities
- Change Corporation / S-Corporation Types
NOTE: Switching the entity type will only change the basic information entered into the original return. Any dollar amounts that were entered will not pull into the new return and will have to be re-entered.
Form 990 and Form 990-EZ
Because of the differences in calculating Form 990 and Form 990EZ, our program is not designed to allow switching between these two forms. If you have created one in error, you will need to delete the form and then recreate the return using the correct form.
Additional Resources: